Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (Frankfurt: 6MR1) (the “Company” or “Kuya”) is pleased to announce that it has commenced the Phase 1 drill program at the Bethania Project, located in Central Peru. Kuya has planned to drill 5,000 metres in this Phase 1 program (see Figure 1 for drill plan). The first diamond drill is currently on site with two additional drill rigs arriving in the coming weeks to complete the program.
This initial program will be split into two parts, approximately 4,000 metres are planned for the western third of the property testing all seven veins that make up the historical resource (see the Independent Technical Report on the Bethania Silver Project, dated August 29, 2019 and filed October 1, 2020 under the Company’s profile at www.sedar.com). The assays and geotechnical measurements taken from this portion of the drill program will be used to complete the underground mine production plan, including an expansion from 100 tonnes per day to 350 tonnes per day. In addition, Kuya expects to complete a National Instrument 43-101 technical report, including a resource estimate on completion of the drill program.
The remaining 1000 metres will target the Española 2 area in this initial phase to confirm the extent of historical mining from the Española 2 adit, as well as testing other newly identified veins at surface that may be related to this mineralization. This series of drill holes is to be located approximately 900 metres east of the main adit and could substantially extend the strike length of the Bethania vein system.
Kuya’s President and CEO, David Stein stated, “Starting this very exciting drill program is a huge accomplishment for Kuya’s team in Peru. Given the recent challenges with COVID-19, our team’s ability to assemble the logistics and expertise required for this program has been a significant undertaking. The first phase of the drill program is just the beginning, designed to provide data that will allow us to confirm and complete our underground mine plans as well as to begin to test the depth extension of the veins below the mine workings. Upon completion of this first program, we would look to step out even further along strike and at depth with our next phase of drilling. Internally, we have very aggressive resource growth targets that we will strive to achieve over the coming year.”
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Dr. Quinton Hennigh, P.Geo., Chairman of Kuya and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya is a Canadian‐based silver‐focused mining company that owns the Bethania Project, which includes the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll‐milling its ore at various other concentrate plants in the region, the Company’s plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver‐lead and zinc concentrates from the run of mine material, until being placed on care and maintenance due to market conditions and lack of working capital.
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This initial program will be split into two parts, approximately 4,000 metres are planned for the western third of the property testing all seven veins that make up the historical resource (see the Independent Technical Report on the Bethania Silver Project, dated August 29, 2019 and filed October 1, 2020 under the Company’s profile at www.sedar.com). The assays and geotechnical measurements taken from this portion of the drill program will be used to complete the underground mine production plan, including an expansion from 100 tonnes per day to 350 tonnes per day. In addition, Kuya expects to complete a National Instrument 43-101 technical report, including a resource estimate on completion of the drill program.
The remaining 1000 metres will target the Española 2 area in this initial phase to confirm the extent of historical mining from the Española 2 adit, as well as testing other newly identified veins at surface that may be related to this mineralization. This series of drill holes is to be located approximately 900 metres east of the main adit and could substantially extend the strike length of the Bethania vein system.
Kuya’s President and CEO, David Stein stated, “Starting this very exciting drill program is a huge accomplishment for Kuya’s team in Peru. Given the recent challenges with COVID-19, our team’s ability to assemble the logistics and expertise required for this program has been a significant undertaking. The first phase of the drill program is just the beginning, designed to provide data that will allow us to confirm and complete our underground mine plans as well as to begin to test the depth extension of the veins below the mine workings. Upon completion of this first program, we would look to step out even further along strike and at depth with our next phase of drilling. Internally, we have very aggressive resource growth targets that we will strive to achieve over the coming year.”
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Dr. Quinton Hennigh, P.Geo., Chairman of Kuya and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya is a Canadian‐based silver‐focused mining company that owns the Bethania Project, which includes the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll‐milling its ore at various other concentrate plants in the region, the Company’s plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver‐lead and zinc concentrates from the run of mine material, until being placed on care and maintenance due to market conditions and lack of working capital.
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
